PIMCO's Bill Gross commented today regarding his views on whether or not the Fed will go forward with QE3. He believes the prospects will depend on three factors, including what happens in Europe, inflation rates in the U.S., and the rate at which the U.S. can add jobs. Right now he puts the odds for QE3 at 50/50.

QE3 would be seen as a catalyst for gold, traded through SPDR Gold Shares (NYSE: GLD).